Wednesday September 28, 2005

'Business as a Vocation' Series Fosters Integrity

Oct. 13 lecture by Valero Energy Corp. executive will encourage students to create a culture of business integrity.

The University of Dayton's School of Business Administration will host the second installment of its annual series, "Business as a Vocation: Creating a Culture of Integrity," in which participants learn from business leaders who've demonstrated the ideals of business ethics in their work. The series encourages students to view a career in business as a vocation, rather than just a job, fostering a deeper sense of purpose and creating a culture of business integrity.

William Greehey, chairman of the board and CEO of Valero Energy Corp., a Fortune 500 company, will deliver a lecture titled "Culture as a Competitive Advantage" at 5:30 p.m. Thursday, Oct. 13, in the Kennedy Union ballroom on UD's campus. The free lecture is open to the public. Parking is available in campus lots C and P.

Raised in a working-class family in Iowa, Greehey began working at age 12 to help support his parents, then parked cars to support his own family while earning his college degree through the GI Bill of Rights. At 32 and after just five years with Coastal State Gas Corp., Greehey was named vice president and controller.

Coastal's natural gas subsidiary faced seven years of litigation following the energy crisis in the 1970s, after which Greehey turned the subsidiary around and spun it off as a separate entity that became Valero Energy Corp. At that time, it was the largest corporate spin-off in U.S. history.

Today, Valero is the largest refiner in North America with 18 refineries throughout the United States, Canada and the Caribbean. The company has approximately 22,000 employees and annual revenue of approximately $70 billion. Valero has consistently been ranked among the "100 Best Companies to Work for in America" by Fortune magazine and one of the "100 Best Managed Companies in the World" by Industry Week magazine. It also has earned numerous honors for its community efforts, including twice receiving the Spirit of America Award, United Way's highest corporate honor. In 2003, Worth magazine ranked Valero 15th among the Fortune 500 companies for its philanthropy.

A merger is currently under way in which Valero will acquire Premcor in a $6.9 billion transaction of cash and stock. This acquisition will add four refineries to Valero's holdings, including one in Lima, Ohio.

For media interviews, contact Peggy Nicodemus at (937) 229-2328 or via e-mail at peggy.nicodemus@notes.udayton.edu.